1 minute readThe pandemic has played favorites among housing markets.
We’ll come to that presently. Meanwhile, guess the operative word in this headline of an update analysis from CoreLogic economist Thomas Malone: “It is important to remember that prices show what happening in the submarkets that are selling right now, and don’t necessarily reflect what is happening in the markets that aren’t selling. The appreciation seen in the pandemic is a snapshot that is mostly showing what is happening in more expensive markets. As sales in lower priced areas pick up again, it seems hard to predict.” The two take-aways here? One is, “this time’s different” may not play out despite the look and feel that this recession has spawned atypical price and home sales trends. The other is this: the coronavirus hurts most where the most hurt. The K recovery – thanks to strong numbers among bigger spenders – may deceive many into believing that times are better across the board than they are.
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